8^^ 


Duke  University  Libraries 


D03209549W 


LETTER  TO  PRODUCE  LOAN  AGENTS  ENCLOSING 
REGL'LATIONS  FOR  PURCHASING  COTTON. 

Treasury  Department,  ) 
Richmond,  May  29,  1S62.      I 

Herewitli  avc  oiiolosed  regulations  for  the  purchase  of  cot- 
ton umler  the  Act  of  Congress  of  April  21st.  You  arc  re- 
quested to  proceed  with  vigor  to  the  execution  of  tkis'  trust, 
and  in  every  part  of  the  State  where  safe  deposits  can  he 
made  of  the  cotton  purchased,  you  will  proceed*  to  make  pur- 
chases. I  do  not  d(.'em  it  requisite  to  .set  any  limit  to  the 
extent  of  your  purchases  until  I  shall  learH  from  your  fu'st 
monthly  report  what  amount  of  oflers  have  been  made,  to 
you.  You  will,  however,  not  wait  till  the  end  of  any  month 
to  advise  the  Department  of  purchases  ;  but  you  should 
promptly  (at  least  once  a  week)  forward  advice  in  order  that 
bonds  may  be  promptly  furnished  to  close  the  transaction. 
I  am,  ver}-  respectfully, 

(Signed.]  C.  G.  MEMMTNGER, 

Secrelarij  of  Treamri/. 


773     2— 

ADDENDUM  TO  REGULATIONS. 

In  place  of  No.  7,  in  llegul.itions,  as  to  the  purchase  of 
produce,  under  the  act  to  authorize  the  exchange  of  bonds 
for  articles  in  kind,  &c.,  use  the  following  form  : 

Bales;  Aggregate  Weight^ a  $ 

statjE  of 

CoUNTV  OF 

Tuum,  or  Fostoffice,  _     _; _ 

The  undersigned  having  sold  to  the  Confederate  States  of 
America,  and  received  the  value  of  same  in  bonds, 
Bales  of  Cotton,  marked,   numbered   and  classed  as  in  the 
margin,  which  arc  now  deposited  at  _     ' 

_  hereby  agrees  to  take 
due  care  of  said  cotton  whilst  on  his  plantation,  and  to  de- 
liver the  same  at  his  own  expense,  at     

in  the  Staie  of  

to  the  order  of  the  Secretary  of  the  Treasury,  or  his  Agents, 
or  their  Assi^rns. 


___ /  S'l)     . 

The  undersigned,  as  Agent  of  the  Government,  certifies 
that  the  within  Cotton  has  been  examined  bv  him  or  by  a 
competent  judge,  and  that  its  character  will  rank  according 
to  the  commercial  scale  as 

and  also,  that  the  weights  and  marks  arc  as  described — the 
(,'otton  being  in  good  merchantable  order,  and  safely  stored 
in  a  covered  Iniilding. 

The  undersigned  certifies  that  the  price  agreed  upon  is  a 
fair  market  price  at  the  present  time. 


Each  agent  shall  note  upon  the  margin  of  the  transfer  of 

title,  of  which  the  form  is  given  above,  in  addition  to  the 

niaiks  and  numbers,  the  weight  of  the  cotton  purchased. 

C.  G.  MEMMINGER, 

Secretary  of  the  Treasury. 
August  26,  1862. 


CIRCULAR  TO  PRODUCE  LOAN  AGENTS   MAKLNd 
THEM  DISBURSINCx  OFFICERS. 

.    CONFEDERATE  STATES  OF  AMERICA,  i 

Treasury  Department^  > 

Richmond,  August  27tli,  1862.      ) 

Slit  :  In  order  to  facilitate  the  payment  of  the  fractional 
amounts  over  $50  00  and  less  than  $100  00,  for  which 
bonds  caimot  be  given,  on  the  purchase  of  lots  of  cptton  un- 
der the  regulations  of  Ma}'  21st,  issued  by  this  Department, 
it  is  deemed  advisable  to  make  advances  to  o-ach  general  agent 
of  such  amount  as  he  may  estimate  to  be  necessar}-  for  this 
purpose  for,  saj,  three  months.  Tlie  agents  Avill  thus  bo 
made  disbursing  officers,  and  as  such  are  required  by  law  to 
give  bonds  for  the  faithful  performance  of  their  duties  and  to 
I'cnder  at  the  end  of  each  quarter  an  account  of  their  dis- 
bursements. I  have  fi.xed  the  amount  of  the  bond,  a  form  of 
which  you  will  find  enclosed,  at  $5,000  GO,  which  it  is  sup- 
posed is  so  low  that  no  agent  will  liave  any  difliculty  in 
giving  it. 

You  will  please  transmit  the  bond  at  once  and  also  the  es- 
timate for  the  amount  of  funds  requii'cd. 
I  am,  very  respectfully, 

(Signed,)  C.  G.  MEMMINGER, 

Secretary  of  Treasury. 


\ 


• :  f , 


ms.f 


u. 


CIRCULAR   INSTRUCTIONS. 


REGULATIO?iS  in  relalion  to  the  issue  of  Certificates  for 
Bonds  and  Registered  Stork. 

TREASURY  DEPARTMENT,  C.  S.  A., 
RicmtoND,  February  25,  1863. 
Congress  having  ordererl  that  certificates  may  be  issued 
in  anticipation  of  bonds,  for  funding  treasury  notes,  and 
for  making  payments  for  produce  loan,  the  following  regu- 
lations will  be  observed  at  all  offices  under  the  control  of 
this  department. 

1.  AVhen  treasury  notes  shall  be  paid  in  at  the  treasury, 
or  at  the  office  of  any  assistant  treasurer  or  depositary  for 
the  purpose  of  being  funded,  and  there  are  not  on  hand  a 
sufficient  amount  of  bonds  or  certificates  of  stock  to  be 
issued  in  exchange,  the  treasurer,  assistant  treasurer  or  de- 
positary to  whom  the  notes  are  paid,  shall  issue  to  the  party 
paying,  a  certificate  for  the  amount  paid,  designating  the 
rate  of  interest  to  which  they  are  entitled ;  and  the  said 
certificate  shall  be  taken  up  with  bonds  or  stock  bearing  the 
same  date  and  rate  of  interest,  as  soon  as  they  can  be  ob- 
tained. 

2.  All  treasury  notes  not  bearing  interest,  which  bear 
date  prior  to  1st  December,  1862,  are  entitled  to  be  funded 
in  eight  per  cent,  up  to  the  22d  April  next;  after  which 
date  they  can  only  be  funded  in  seven  per  cent. 

3.  All  treasury  notes  not  bearing  interest,  which  bear 
date  subsequent  to  the  1st  December,  1862,  are  entitled  to 
be  funded  in  seven  per  cent. 


4.  All  subscriptions  to  the  produce  loan,  which  have  keen 
made  prior  to  20th  February,  lS63,will  be  entitled  to  eight 
per  cent.;  and  all  subscriptions  since  that  date,  will  be  paid 
in  seven  per  cent. 

For  further  information,  copies  of  the  acts  of  Congress 
in  relation  to  this  subject  are  appended. 

C.  G.  MEMMINGEK, 
Secretary  of  Treasury. 


AN  ACT 

To  avthorizc  the  issue  of  Bends  fur  funding    Treasury  Notes. 

Secticn  1.  The  Covgrrss  of  the  Covfderote  Stctes  of 
Arr.eriea  do  tnact.  That  the  Secretary  of  the  Treasury  he, 
and  he  is  hereby  authorized  to  issue  coupon  bonds  and  cer- 
tificates of  stock,  with  interest  payable  stmi-annually,  at 
the  yearly  rate  of  eight  per  cent.,  for  such  amount  as  may 
be  recjuired  in  exchange  for  all  treasury  notes,  which  are 
now  fundable  in  eight  per  cent,  bonds,  and,  also,  to  pay  for 
any  subscription  to  the  produce  loan,  which  may  remain  un- 
paid after  exhausting  the  one  hundred  million  loan. 

Sec.  3.  That  the  said  Secretary  is  also  authorized  to  issue 
coupon  bonds  and  certificates  of  stock,  with  interest  at  the 
yearly  rate  of  seven  per  cent.,  payable  semi-annually,  for 
such  anrount  as  may  be  required  in  exchange  for  all  treasury 
notes  which  are  now  fundable  in  seven  per  cent,  bonds. 

Sec.  3.  That  all  bonds  issued  under  this  act  shall  be  made 
redeemable  at  the  pleasure  of  the  government,  after  the  ex- 
piration of  five  years  from  their  respective  dates,  but  the 
faith  of  the  government  shall  be  pledged  to  redeem  the  same 
at  the  expiration  of  thirty  years  from  such  dates. 

Sec.  4.  That  until  the  bonds   authorized  by  this   act  can 
be  prepared,  the  Secretary  may  issue  in  their  stead,  certifi- 
cates showing  the  right  of  the  holders  to  demand    bonds  of 
like  date  and  amount,  as  soon  as   the  same  can  be  prepared. 
Approved,  February  20,  1863. 


AN  ACT 


To  reduce  the  rate  of  Interest  on  the   Funded  DM  of  tlie  Con- 
federate States. 

Section  1.  The  Congress  of  the  Confederate  States  of 
America  do  enact,  That  all  treasury  notes  issued  after  the 
1st  day  of  December  next,  shall   be   made  fundable  only  in 


b^nds  bearing  interest  at  the  rate. of  seven  per  centum  per 
annum,  but  in  all  other  resjiicts  similar  to  the  bonds  bear- 
ing eight  per  cent,  interest. 

Sec.  2.  Tiie  Secretary  of  the  Treasury  shall  have  au- 
thority, by  public  notice  duly  advertised,  to  rc|uire  the 
holders  of  treasury  notes,  to  come  in  and  fund  the  same  in 
eight  per  cent,  bonds  or  stocks,  within  six  months  afcer  the 
date  of  sush  notice,  an  1  all  notes  which  shillnotbe  pre- 
sented for  funding  within  the  said  time,  shall  thereafter  be 
entitled  to  be  fumled  only  in  the  bonds  or  stock  which  shall 
thereafter  be  issued  under  the  direction  of  the  Secretary  of 
the  Treasury,  bearing  interest  at  the  rate  of  seven  per  cent, 
per  annum,  payable  semi-annually:  Providnd,  That  nothing 
herein  contained  shall  be  construed  to  revoke  the  authority 
heretofore  given,  to  issue  si.'s  per  cent,  re-convertible  bonds. 

Approved,  October  1:3,  1862. 


CIRCULA.R    LETTER. 


REO  ULA  TIONS  in  nldlion  to  resuming  the  purchase  of  Cot- 
ton. 

TREASt:ilY  DEPAKTMl'.NT,  C.  S.  A., 

RicHMONP,  Marcli  6,  1863. 

Sir:  You  are  licieliy  directed  to  resume  tlio  purc.Iiase  of 
cotton  recently  .susjirnJcd  by  my  order,  lor  tlie  purpose,  if 
possible,  of  reducing  its  price,  by  the  temporary  witlidrawal 
of  the  government  from  the  market.  Until  further  instructed, 
you  will  pay  the  current  market  prices,  if  it  cannot  be  ob- 
tained for  less. 

l|lr  all  purchases,  (lom  the  subscribers  to  the  produce 
loan,  and  to  the  ext'  ut  of  their  sub.'icrijition?,  and  no  further, 
yoa  are  authorized,  under  the  act  of  Feb.  iOth  nil.,  a  copy 
of  which  you  will  find  enclosed,  to  jiiako  payment  in  eii^iii 
per  cent,  bonds,  and  for  purchases  I'rom  other  parties  and 
from  subscribers  for  the  (>.\eess  above  their  subscriptions, 
payment  will  be  made  in  seven  per  cent,  bonds. 

All  purchases  made  uj)  to  this  time,  win  tlier  from  sub- 
.scribcrs  to  the  ju'oducc  loan  or  not,  will  be  paid  for  in  eight 
per  cent,  bonds. 

The  one  hundred  million  loan  having  been  exhausted, 
new  bonds  of  both  classes  will  have  to  be  pre{>ared,  and  in 
the  mean  time,  in  making  your  purchase.*,  you  will  issue  the 
certificates,  with  which  you  will  bcsupj^lied,  provided  for  in 
section  -4,  of  the  act.- 

You  will  be  careful  to  show  in  your  reports  in  each  case, 
whether  the  jiurehasj  has  been  made  from  a  subscriber  to 
the  produce  loan,  and  if  for  more  than  his  subscriptions,  you 
will  please  notci  the  excess. 

I  am,  very  respectfully, 

C.  G.  MEMMINGEU 
Secretary  of  Treasury. 


\ 


.  v* 


TREASURY  CIRCULAR  NO.  12. 


CfRCCLAL  LETTER  TO  PRODUCE  LOAN  AGENTS. 
COLLECTION  OF  PRODUCE  LOAN. 

Treasury  Department,  C.  S.  A.,  [ 
Richmond,  April  21,  1863.      ) 

Sir:  You  arc  hereby  directed  to  give  notice  to  the  sub- 
.^cribors  of  the  Produce  Loan,  that  the  reason  for  postponing 
the  sale  of  produce,  on  account  of  the  inadequacy  of  the 
jiiarkct  price?,  no  longer  existing,  it  will  now  be  expected  of 
them  to  meet  their  engagements  with  the  Government.  The 
subscription  list  payable  in  eight  per  cent,  bonds  was  closed  on 
the  20th  February,  1803,  and  you  will  now  give  notice  that  the 
.-ubscriplions  must  be  paid  on  or  before  the  thirty -first  day  of 
July  ensuing.  Up  to  that  day  subscribers  will  receive  eight 
per  cent,  bonds,  and  the  subscriptions  may  bo  paid  in  any  ol 
the  issues  of  treasury  notes. 

Subscribers  who  may  pay  after  that  date  will  only  receive 
six  or  four  per  cent,  bonds,  under  the  currency  act  of  Jfark/h 
23,  1863,  according  to  the  currency  in  whieli  payment.*  are 
made. 

C.  G.  MEMMINGER, 
Secrr.tary  of  the  Treasury. 


« 


1 


1 


Creasnrij  Icjiartmcnt,  C.  |.  %. 

Richmond,  May  10th,  1864. 

The  following  Regulations  are  issued  for  guidance  of  Produce  Loan  Agents  and  other  parties 
concerned  in  the  collection  and  preservation  of  Tithe  Cotton : 

I.  The  Quartermasters  in  each  Congressional  District  shall  collect  the  cotton  tithe,  weigh  each  bale  and 
mark  the  same  ^■\''-  and  then  store  in  their  depots.  They  shall  inform  the  General  j^Tont  of  the  Produce  Loan 
in  their  'respective  States,  at  least  once  a  month,  or  more  frequently  if  they  prefer,  of  the  number  of  bales 
collected,  with  their  detailed  weights.  The  General  .Agent  of  the  Produce  Loan  shall  thereupon  receipt  in 
triplicate  to  the  Quartermaster  for  the  same,  the  cotton  rcmnining  in  the  custody  of  the  Quartermaster  but  he 
having  only  the  responsibility  of  a  warehouseman.  One  of  the  receipts  given  by  the  General  Agent  of  the 
Produce  Loan  shall  be  forwarded  to  the  Chief  of  the  Produce  Loan  Office  at  Richmond. 

n.  Wlien  it  is  impossible  to  store  the  cotton  the  bales  may  be  allowed  to  remain  unsheltered,  but  placed  upon 
platforms  or  skids,  so  as  to  raise  them  at  least  four  inches  from  the  ground.  In  no  case  must  cotton  be  placed 
upon  the  ground ;  it  must  also  be  enclosed  by  a  fence  or  railing,  to  prevent  destruction  by  animals.  When  cotton 
is  left  unsheltered  as  above,  it  shall  be  the  duty  of  the  Produce  Loan  Agent  to  remove  it  as  soon  as  possible  to  a 
place  of  security  and  store  it  in  some  warehouse  or  covered  building  at  a  railroad  depot,  or  in  some  town  village 
or  upon  a  neighboring  plantation — if  stored  upon  a  plantation^  A  coritract'shall  be  made  with  the  planter  to  take 
due  and  proper  care  of  the  cotton,  to  shelter  and  protect  it  and  deliver  it  when  demanded,  it  being  understood 
that  the  planter  is  not  to  be  held  responsible  e.\eept  as  a  waieliouseraan. 

II L  Loose  cotton  shall  be  received  by  the  Quartermaster  only  when  there  is  not  enough  to  make  a  bale,  and 
shall  be  stored  in  the  garret  of  the  Quartermaster  storehouses,  ip  which  floors  shall  be  laid  for  the  purpose,  if 
there  are  no  floors.  When  lumber  cannot  be  obtained  for  flooring,  or  where  it  is  inconvenient  to  use  it,  poles  with 
the  bark  taken  off  may  be  used  instead.  This  cotton  shall  bo  packed  in  round  bags,  about  300  ft)s.  in  the  ba<», 
using  wide  and  strong  bagging  for  the  purpose — the  same  ijualities  of  cotton  to  be  packed  together  as  pear  as 
practicable.  In  cases  where  there  arc  no  garrets  to  Quartcnaastcr  storehouses,  or  suitable  bvyldings  cannot  bo 
obtained,  then  the  Quartermaster  shall  cause  to  be  built  sheds  with  peaked  roofs,  large  enough  for  packin<T  two 
bags  each  to  contain  300  B)s.,  and  the  loose  cotton  shall  be  piickod  in  these  bags  according  to  quality — in  one  to 
be  packed  the  cotton  classifying  from  ordinary  to  middling,  and  in  the  other  good  middling  to  fiir — the  bags  when 
packed  shall  be  stored  and  turned  over  as  before  provided.  The  bagging  to  be  used -shall  be  furnished- by  the 
General  Agent  of  the  Produce  Loan,  or  paid  for  by  him  if  furnished  by  tlie  Quartermaster.  When  in  the  opinion 
of  the  Quartermasters  it  shall  be  impracticable  to  collect  sniiifi  lots  of  loose. cotton,  they  shall  be  authorized  to 
transfer  the  estimates  of  the  assessors  for  the  same  to  the  Distict  Collectors,  to  be  collected  in  their  money  value, 
in  accordance  with  section  12  of  the  act  of  February  17th,  ISo  I. 

IV.  In  cases  where  the  tithe  falls  short  of  a  bale,  say  from  40  to  cO  lbs.,  if  a  whole  bale  is  delivered,  the 
Quartermasters  shall  be  authorized  to  pay  for  the  excess,  and  tliis  amount  shall  be  refunded  by  the  Produce  Loan 
Agents,  when  the.  cotton  is  turned  over  to  them.     Cases  of  this  kind  shall  be  specially  noted  in  return,*. 

V.  The  General  Produce  Loan  Agents  shall  make  monthly  reports  at  the  end  of  each  month,  to  the  Chief  of 
the  Produce  Loan  Ofiice  at  Richmond,  setting  forth  the  number  of  bales  and  bags  of  cotton  collected  during  said 
month,  together  with  their  weights,  marks,  numbers  and  classifications,  and  the  places  where  they  are  stored,  and 
if  on  plantations  naming  particularly  the  county.  They  shiill  al.-io  render  quarterly  a  separate  account  of  their 
disbursements  on  account  of  tithe  cotton. 

VI.  The  controlling  Quartermaster  and  the  General  Produce  Loan  Agent  in  each  State  shall  have  power 
jointly  to  modify  the  letter  of  the  foregoing  regulations,  when  it  is  absolutely  impracticable  to  execute  them  in 
detail,  but  they  shall  make  and  carry  out  mutual  arrangements  liaving  the  same  scope  and  spirit  as  the  above. 

C.  G.  MEMMINGER, 

iSec'y   Treasurt/. 

Ass't  Q.  M.  Genl's  Office,  lUvlmohd,  lOth  May,  18G4. 

Quarte"fmaster8  and  agents  on  Tax  duty  will  be  governed  by  the  foregoing  regulations. 

LARKIN  SMITH, 

A.  Q.  M.  Gent:. 


^rr»«*. 


CJ..  iU^/^uj^^^ 


Confederate  States  of  America, 

TREASURY  DEPARTMENT, 
MoNTGOMEKY,  March  6,  1861. 

Tlie  regulutioiis  ami  instructions  prepared  by  this  de- 
partment under  this  date,  are  transmitted  for  the  infor- 
mation and  government  of  the  officers  of  tiic  several 
branches  of  the  public  service  referred  to  therein.  Careful 
attention  and  strict  compliance  with  the  same,  are  enjoin- 
ed upon  ever3'  officer. 

Collectors  of  customs  are  specially  charged  to  organize 
all  collateral  and  subordinate  departments  at  their  respec- 
tive ports, _in  conformity  to  the  foregoing  regulations  to 
secure  the  interests  of  the  Government  and  to  promote 
the  facilities  of  commerce. 

Collectora  and  revenue  officers  above  the  port  of  New 
Orleans,  within  the  Confederate  States,  in  the  adoption 
and  practice  enjoined  by  the  regulations,  will  be  under 
tlie  general  supervision,  as  far  as  practicable,  of  the  Col- 
lector of  New  Orleans,  subject  to  the  direction  and  control 
of  this  department. 

All  officers  of  the  Customs  in  permanent  employment 
are  required  to  give  their  whole  time  to  their  duties  and 
are  not  permitted  to  engage  in  other  business  ;  exccjit  in 
special  cases  allowed  b}-  express  order  of  the  Secretary  of 
the  Treasury. 

■       C.  G.  MEMMINGER, 
Secretary  of  the  Treasury. 


Hollinger  Corp. 
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